November 2026 Metro Vancouver rent report

At a glance

• Unfurnished one-bedroom rents sit below last year in seven of nine Metro Vancouver cities
  • Compared with November 2025, unfurnished one-bedroom rents were lower in seven of the nine cities, with declines ranging from 0.23% in North Vancouver to 8.64% in Richmond. Coquitlam and West Vancouver were the only cities above last year, up 0.50% and 0.45%. The Metro Vancouver average of $2,095 is 3.2% below November 2025.
• Coquitlam rents rose across all six unit types this month
  • Coquitlam was the only city where furnished and unfurnished rents increased for one-, two-, and three-bedroom units alike. Furnished one-bedrooms rose 6.67% to $2,056, unfurnished two-bedrooms rose 6.18% to $2,503, and unfurnished three-bedrooms rose 6.58% to $3,264. Its unfurnished one-bedroom rent of $2,057 is up 2.66% from October and 0.50% above November 2025.
• Furnished one-bedrooms are pulling ahead of unfurnished across Metro Vancouver
  • Furnished one-bedroom rents rose 1.39% to $2,181, outpacing the 0.58% increase for unfurnished units at $2,095. The furnished premium widened from $68 in October to $86. In North Vancouver and West Vancouver, furnished one-bedrooms edged up 0.20% and 2.00% while unfurnished one-bedrooms slipped 0.85% and 0.09%.

Download liv.rent’s 2026 Canada rental market trends report for in-depth insights and forecasts on average rent prices, regional market comparisons, key economic drivers, and emerging AI trends shaping Canada’s rental landscape.

On October 28, 2026, the Bank of Canada raised its policy interest rate by 0.25 percentage points to 2.5%, its first increase since July 2023. The next scheduled announcement is December 9, 2026. B.C.’s annual allowable rent increase limit is 2.3% for 2026 and will be 2.2% for 2027, effective January 1, 2027.

Let’s look now at the current rental costs and overarching trends in Vancouver for November 2026.

Average asking rent across Metro Vancouver

This month, the average asking rent for an unfurnished one-bedroom unit increased 0.58% from October, settling at $2,095 per month. Since November 2025, the Metro Vancouver average for an unfurnished one-bedroom has decreased 3.2%, a drop of $69.

Planning on raising rent? B.C.’s annual allowable rent increase limit is 2.3% for 2026 and 2.2% for 2027, effective January 1, 2027. Find out when and how to increase rent, and how to comply with provincial guidelines, by reading our updated guide to B.C. rent increases.

Rental trend

Viewed across the year so far, unfurnished one-bedroom asking rents have held in a narrow band between $2,061 and $2,111 since January while staying below the same month in 2025 every time. The gap against last year has narrowed from $182 in January to $69 in November.

Month-over-month rent change

To better understand how rent prices have shifted across Metro Vancouver cities, here are the most significant month-over-month movements for furnished and unfurnished one-bedroom units.

Among furnished one-bedroom units, Coquitlam recorded the largest increase at 6.67%, followed by Burnaby at 4.84% and Richmond at 3.30%. Surrey posted the largest decrease at 3.97%, followed by Vancouver at 1.94% and Langley at 1.02%.

Among unfurnished one-bedroom units, Richmond recorded the largest increase at 7.29%, followed by Burnaby at 2.70% and Coquitlam at 2.66%. Vancouver posted the largest decrease at 2.82%, followed by Langley at 1.67% and Surrey at 1.48%.

Rent per square foot

Where is the most affordable place to rent in Metro Vancouver based on the space you get? As of November 2026, the average asking rent per square foot rose 3.4% from October to $2.82. The least expensive cities for square footage are Surrey, West Vancouver, and New Westminster. The most expensive are North Vancouver, Vancouver, and Burnaby.

Active listing data

We also examine detailed statistics for currently active listings on the market to see which property types and bedroom counts are most represented. For renters, these numbers show the types of units you are most likely to encounter across Metro Vancouver. For landlords, they indicate how much competition you face based on current supply.

Active listings by property type

As of November 2026, apartments were the most common rental property type on the market at 72.94% of active listings. Partial houses were the second most represented unit type this month at 15.97%, followed by houses at 6.41% and townhouses at 4.69%.

Active listings by number of bedrooms

Looking at bedroom counts, one-bedroom units were the most common listing this month at 46.63%, with two-bedroom units close behind at 42.74%. Three-bedroom units made up the remaining 10.63%.

Average unfurnished and furnished rates

Average prices for both furnished and unfurnished one-bedroom units increased across Metro Vancouver this month. Furnished one-bedrooms increased 1.39% to $2,181 per month, while unfurnished units increased 0.58% to $2,095. A furnished one-bedroom currently rents for $86 more per month than an unfurnished one on average.

Looking for our full November 2026 Metro Vancouver rent report? Download your copy in the downloadable resources section for all the latest insights, including a detailed breakdown by neighbourhood.

City breakdown

Rental averages vary widely across Metro Vancouver, so we break the data out by municipality to compare the cost of one-, two-, and three-bedroom rates for furnished and unfurnished units in different areas. Here are some highlights from our most recent findings:

• Furnished one-bedroom rents rose in six of the nine cities, with decreases in Langley, Surrey, and Vancouver.
• Furnished two-bedroom rents also rose in six of the nine cities, with decreases in Langley, North Vancouver, and Vancouver.
• Unfurnished one-bedroom rents fell in five cities: Langley, North Vancouver, Surrey, Vancouver, and West Vancouver. Burnaby, Coquitlam, New Westminster, and Richmond saw increases.

The table includes a year-over-year column comparing each city’s unfurnished one-bedroom asking rent with November 2025. Seven of the nine cities sit below where they were a year ago, with declines ranging from 0.23% in North Vancouver to 8.64% in Richmond, while Coquitlam and West Vancouver are slightly higher. The table is interactive: sort any column, or download it as an image.

Neighbourhood breakdown

We break Vancouver down by neighbourhood for a more complete picture of the city’s rental markets. For neighbourhood detail in municipalities outside Vancouver, download the complete rent report.

Across all 17 City of Vancouver neighbourhoods, Downtown is the most expensive place to rent this month, with an unfurnished one-bedroom asking $2,572 per month. Sunset and Victoria Fraserview is the most affordable at $1,798 per month.

We have added new neighbourhoods to our monthly reports that are not shown in the data below. For those additional neighbourhoods, furnished rental statistics, and neighbourhood breakdowns for other Metro Vancouver cities, download your copy of the full report in the downloadable resources section.

Most expensive cities in Canada

This November, four of the country’s five most expensive cities are in Metro Vancouver. West Vancouver* claims the top spot as the most expensive city in Canada to rent in, followed by North Vancouver and Vancouver, with Burlington, Ontario, in fourth and Burnaby rounding out the top five.

*Based on a smaller sample of listings.

These insights are exclusive to our blog and give more context to each month’s rental data. Based on data sourced directly from liv.rent, these statistics provide a broader view of the current rental situation in Canada.

Renter demographics

Our renter demographics remain fairly balanced across age groups. Most users fall between the ages of 25 and 44: 21% are aged 25 to 34 and 33% are aged 35 to 44. Users aged 45 to 54 account for 24%, users 55 and older account for 14%, and users under 25 account for 8%.

Pet-friendly rentals

liv.rent continues to be the rental platform with the most pet-friendly rentals. This November, 23% of units on other rental platforms were pet-friendly, compared with 55% of all units listed on liv.rent.

Downloadable resources

Rental resources for B.C. renters

These comprehensive guides cover renting in B.C. and using liv.rent to streamline your rental process.

• B.C. residential tenancy agreement explained
• Guide to B.C. tenancy forms
• The complete user guide to liv.rent for landlords and property managers
• The ultimate renter’s guide to using liv.rent

Data collection methodology

Our monthly rent reports use data from our own liv.rent listings, as well as data our team manually collects from other popular listing sites, covering available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

When collecting this data, we exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation. Investing in manual data collection means we consider only the current month’s listings, since we can filter out duplicate listings and older ads that have not been removed.

Another key difference between our data collection methods and those of agencies such as the Canada Mortgage and Housing Corporation is that we include only current asking rent prices. Many official reports include data for entire buildings, which tends to skew numbers lower since many units are already occupied and may be rent-controlled or rented well below current rates.

As a Canadian rental platform founded and based in Vancouver, we want to provide a completely accurate depiction of the rental market in the cities we cover.

Rethink the way you rent

Not on liv.rent yet? Experience the ease of digital applications and contracts, verified tenants and landlords, virtual tours, and more, all on one platform. Sign up for free or download the app.

Learn more

Subscribe to receive monthly updates on Canada’s major rental markets. Discover last month’s rent reports below:

Vancouver rent report
Ontario rent report
Montreal rent report
Calgary and Edmonton rent report